Summary
STEMAAR is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €6.3m and a net result of -€18,214. Equity has been stable since 2018 (±0.3% per year). Its solvency ranks better than 62% of 6,694 sector peers (NACE 64, financial year 2025). The company has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 26-11-2007 Normal situation
- Activity
- Activities of holding companies NACE 64210and 3 others
- Establishment unit
- 2.168.749.457 2500 Lier, since 28-11-2007
- Financial year end
- 31 December
- Peppol
- Reachable since 24-06-2025
Board and ownership
- Katrin TorfsDirector · since 26-11-2007
- Dr. Maarten Couturier BVDirector · since 01-01-2024
- SCOVESTDirector · since 01-01-2024 · permanent representative Steven Couturier
- Holdings
- Shares in 2 companies OBIT and TAK HERMAN
Financial position
- Loss
- €18,214
- ▲ 560%
- Equity
- €6.3m
- ▼ 0.3%
- Total assets
- €9.8m
- ▼ 12.1%
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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Signals
The company filed its last 7 accounts on average 12 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 17-06-2026 at the NBB all 19 filings
Every figure per financial year
The operating result for 2025 is a loss of €1.9m, larger than the loss of €27,792 in 2024. It is the lowest result since 2018.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Investments
| Item | 30-12-2021 | 30-12-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €316,250 | - | - | €1.5m |
| Depreciation and write-downs of the year | €3,391 | €20,483 | €15,092 | €3,391 | €3,391 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.003m | €0.003m | €0.003m | €0.003m | €0.02m | €0.02m | €0.003m | €0.003m | = |
| Other operating charges640/8 | - | - | - | €0.001m | €0.002m | €0.005m | €0.002m | €0.002m | ▲ 3.1% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €1.8m | - |
| Gross operating margin9900 | €0.04m | €0.04m | €238 | €0.04m | -€0.009m | -€0.007m | -€0.02m | -€0.06m | ▼ 167% |
| Operating profit (loss)9901 | €0.04m | €0.03m | -€0.004m | €0.03m | -€0.03m | -€0.03m | -€0.03m | -€1.9m | ▼ 6,609% |
| Financial income75/76B | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €1.8m | ▲ 29× |
| Recurring financial income75 | €0.3m | €0.07m | €0.1m | €0.06m | €0.06m | €0.06m | €0.06m | €0.05m | ▼ 13.5% |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €1.8m | - |
| Financial charges65/66B | - | - | - | €0.1m | €0.1m | €0.1m | €0.04m | €138 | ▼ 99.6% |
| Recurring financial charges65 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.04m | €138 | ▼ 99.6% |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.001m | €0.02m | €0.001m | -€0.07m | -€0.06m | -€0.003m | -€0.02m | ▼ 560% |
| Income taxes67/77 | €0.02m | €442 | €0.002m | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €0.2m | €0.001m | €0.02m | €0.001m | -€0.07m | -€0.06m | -€0.003m | -€0.02m | ▼ 560% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.001m | €0.02m | €0.001m | -€0.07m | -€0.06m | -€0.003m | -€0.02m | ▼ 560% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €9.8m | €9.8m | €9.8m | €9.8m | €9.8m | €10.0m | €11.1m | €9.8m | ▼ 12.1% |
| Fixed assets21/28 | €8.0m | €8.0m | €8.0m | €8.0m | €8.3m | €8.3m | €8.3m | €8.0m | ▼ 3.4% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.2m | €0.2m | €0.5m | €0.5m | €0.4m | €0.2m | ▼ 63.2% |
| Land and buildings22 | - | - | - | €0.2m | €0.5m | €0.5m | €0.4m | €0.2m | ▼ 63.2% |
| Financial fixed assets28 | €7.8m | €7.8m | €7.8m | €7.8m | €7.8m | €7.8m | €7.8m | €7.8m | = |
| Current assets29/58 | €1.8m | €1.8m | €1.8m | €1.8m | €1.6m | €1.7m | €2.9m | €1.8m | ▼ 37.2% |
| Stocks and contracts in progress3 | - | - | - | - | - | €0.4m | €1.0m | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | - | - | €0.4m | €1.0m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €1.4m | €1.4m | €1.3m | €1.3m | €1.2m | €1.2m | €1.0m | €1.2m | ▲ 24.2% |
| Trade receivables40 | - | - | - | €0.03m | €0 | - | - | €0.3m | - |
| Other amounts receivable41 | - | - | - | €1.3m | €1.2m | €1.2m | €1.0m | €1.0m | ▼ 4.7% |
| Current investments50/53 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.05m | €0.05m | €0.05m | ▲ 2.3% |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.4m | €0.5m | €0.2m | €0.09m | €0.8m | €0.4m | ▼ 45.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.01m | €0.01m | €0.008m | €0.09m | ▲ 934% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €9.8m | €9.8m | €9.8m | €9.8m | €9.8m | €10.0m | €11.1m | €9.8m | ▼ 12.1% |
| Equity10/15 | €6.4m | €6.4m | €6.4m | €6.4m | €6.3m | €6.3m | €6.3m | €6.3m | ▼ 0.3% |
| Contributions10/11 | €3.3m | €3.3m | - | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Reserves13 | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | €3.0m | €3.0m | €3.0m | ▼ 0.6% |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.2m | €0.2m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €3.0m | €2.9m | €3.0m | €3.0m | €3.0m | ▼ 0.6% |
| Amounts payable17/49 | €3.4m | €3.4m | €3.4m | €3.4m | €3.5m | €3.7m | €4.9m | €3.5m | ▼ 27.4% |
| Amounts payable after more than one year17 | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | €4.6m | €3.3m | ▼ 28.7% |
| Financial debts170/4 | - | - | - | - | - | - | €1.3m | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | - | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Amounts payable within one year42/48 | €0.1m | €0.08m | €0.1m | €0.1m | €0.2m | €0.5m | €0.3m | €0.2m | ▼ 6.0% |
| Trade debts44 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.2m | €0.02m | €0.007m | ▼ 68.1% |
| Suppliers440/4 | - | - | - | €0.002m | €0.002m | €0.2m | €0.02m | €0.007m | ▼ 68.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.03m | €0.03m | €0 | - | - |
| Taxes450/3 | - | - | - | €0.03m | €0.03m | €0.03m | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.001m | €0.001m | €0.005m | €0.008m | ▲ 54.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €230,348 | €1,004 | €15,361 | €587 | -€68,385 | -€61,954 | -€2,760 | -€18,214 | ▼ 560% |
| + Depreciation and write-downs630 | €3,130 | €3,391 | €3,391 | €3,391 | €20,483 | €15,092 | €3,391 | €3,391 | = |
| Operating cash flow (approximation) | €233,478 | €4,394 | €18,752 | €3,978 | -€47,902 | -€46,861 | €631 | -€14,823 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€316,250 | €0 | €0 | €280,759 | - |
| Change in cash | - | €7,698 | €57,384 | €89,288 | -€240,672 | -€135,735 | €681,093 | -€347,660 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 17-06-2026 | 2026-00181960 | |
| 31-12-2024 | abbreviated format | 30-07-2025 | 2025-00356080 | |
| 31-12-2023 | abbreviated format | 05-08-2024 | 2024-00336049 | |
| 30-12-2022 | abbreviated format | 31-07-2023 | 2023-00311535 | |
| 30-12-2021 | abbreviated format | 15-07-2022 | 2022-20214312 | |
| 30-12-2020 | abbreviated format | 23-07-2021 | 2021-38900285 | |
| 30-12-2019 | abbreviated format | 09-07-2020 | 2020-30300323 | |
| 30-12-2018 | abbreviated format | 24-07-2019 | 2019-37000550 | |
| 30-12-2017 | abbreviated format | 25-07-2018 | 2018-36900230 | |
| 30-12-2016 | abbreviated format | 28-07-2017 | 2017-36700004 |
Board & ownership
Directors
Board 3
Permanent representatives 2
Owners and capital
Capital transactions
- 10-01-2024 Converted to unavailable equity · €3,285,000
- 10-01-2024 Converted to unavailable equity · €160,165.32
- 10-01-2024 Converted to unavailable equity
Mandate history
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Dr. Maarten Couturier BV |
|
| SCOVEST |
|
| Katrin Torfs |
|
Articles of association
Board and representation
- Daily managementDay-to-day management handles the everyday running of the business without the full board.
- The board decides whether the delegates act alone or jointly
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Op naam, aandeelhouders mogen kennisnemen van dit register betreffende hun aandelen”
Audit, dissolution and liquidation
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Algemene vergadering kan bevoegdheden omlijnen en vergoeding bepalen, Algemene vergadering kan bevoegdheden ten alle tijde beperken bij…”
Articles of association, deed of 10-01-2024 (in Dutch)
Network & group
Holdings and subsidiaries
2 holdingsHoldings 2
Source for every holding own accounts 2025
- Equity €4.7m Profit of €371,815 in 2025 (profit of €353,185 in 2024) Checked score 9633.33%
- Equity €19.9m Profit of €91,143 in 2025 (profit of €101,418 in 2024) Checked score 9533.33%
Holdings through the years 2009 to 2025
| Name | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OBIT | 29.8% | 33.33% | |||||||||||||||
| TAK HERMAN | 33.33% | ||||||||||||||||
| STUHOUSING | 2.4% | ||||||||||||||||
Source: list of holdings in its own accounts
Board mandates elsewhere
2 board mandatesCompanies at the same address
1 other companyConnections & network
3 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Deeds, filings and financial milestones
28-02
Gazette deed
2 directors appointedAppointments: Scovest BV (director) and Dr. Maarten Couturier BV (director) · Permanent representatives: Steven Couturier and Maarten Couturier5 points ▸
- General meeting, 31-01-2024
- Director appointment, Scovest BV
- Director appointment, Dr. Maarten Couturier BV
- Permanent representative, Steven Couturier
- Permanent representative, Maarten Couturier
10-01
Gazette deed
Reappointment: Katrin Torfs (director)4 points ▸
- General meeting, 14-12-2023
- 6,570 shares
- Director reappointment, Katrin Torfs
- Registered office clause, Ringenhofweg 14, Lier
- The deed holds 5 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
8 activities
- Het deelnemen in of de directie voeren over andere vennootschappen en ondernemingen; het management en het bestuur van om het even welke ondernemingen en vennootschappen, het optreden als vereffenaar
- Het verlenen van technische, administratieve of commerciële bijstand aan alle Belgische en buitenlandse ondernemingen: het verlenen van financiële bijstand
- Zowel in België als het in het buitenland, onder eender welke vorm, participaties verwerven en aanhouden
- Haar patrimonium, bestaande uit onroerende en roerende goederen of rechten, te behouden, in de ruimste zin van het woord te beheren en oordeelkundig uit te brengen; het aankopen, verkopen, opschikken, uitrusten, valoriseren, bouwen, verhuren, onderverhuren of in huur nemen van onroerende goederen, al dan niet gemeubeld
- De aankoop, verhuur, onderhoud en verkoop van alle roerende goederen – desgevallend ten behoeve van eigen handelsverrichtingen of voor handelsverrichtingen van derden – zoals alle soorten materieel, gereedschappen, machines, installaties en computers, soft-en hardware
- Het aanvragen, verwerven, verhandelen en exploiteren van licenties, octrooien, merken en dergelijke
- Het administratief opvolgen en beheer van bestanden en archieven
- Het begeleiden van kleine, middelgrote en grote ondernemingen in de meest ruime zin
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0893.776.509
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12393F0021/00X002 | Flanders | 928 m² | 1 · 180 m² | 9.7 m · 2 |